1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pishuonlain [190]
4 years ago
10

Using a perpetual inventory system, the seller’s journal entry to record the sale of merchandise on account includes a:_________

.
A. Credit to Cost of Goods Sold
B. Debit to Inventory
C. Credit to Purchases
D. Debit to Accounts Receivable
Business
1 answer:
alexandr1967 [171]4 years ago
5 0

Answer:

D. Debit to Accounts Receivable

Explanation:

Transaction of sale in Perpetual Inventory system will be recorded as follow:

                                          Dr.    Cr.

Account Receivable         xxx

Sales                                          xxx

Cost of Goods Sold          xxx

Merchandise Inventory            xxx

There is no entry to purchases, cost of goods sold is debited and inventory is credited. So, the only correct option which is dealt in above transactions.

You might be interested in
Orange Corporation is developing standards for its products. Product A requires a material that is purchased for $80.00 per poun
Yuri [45]

Answer:

(A) The standard price per pound of this material is $87.11

(B) The standard pounds of this material per unit of product A is 1.01 pounds

Explanation:

According to the given data, in order to calculate the standard price per pound of this material, we would have to use the following formula:

Standard Price per pound of this material=Purchase Price Per Pound  + Shipping Cost per pound +Receiving Cost

                                                                   =$80.00+$6.66+$0.45

                                                                  =$87.11

In order to calculate the standard pounds of this material per unit of product A, we would have to use the following formula:

Standard pounds of this material per unit of Product A=Pounds of material required by Product A +Allowance for waste and spoilage

                                                                                          =0.96+0.05

                                                                                          =1.01 pounds

                               

7 0
3 years ago
Why is a w-2 form so important
amm1812

Answer:

The IRS requires employers to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of federal, state and other taxes withheld from your paycheck. As an employee, the information on your W-2 is extremely important when preparing your tax return.

7 0
3 years ago
What effect did the conquest of constantinople have in the ottoman empire and the spread of islam
Alexeev081 [22]

Answer:

The conquest of Constantinople by the Ottomans marked the end of the Byzantine Empire. It also significantly weakened the position of the Orthodox church compared to the Catholic church.

Islam was the official religion of the Ottoman Empire. The highest position in Islam, caliphate, was claimed by the sultan, after the defeat of the Mamluks which was established as Ottoman Caliphate. The Sultan was to be a devout Muslim and was given the literal authority of the Caliph.

The fall of the city removed what was once a powerful defense for Christian Europe against Muslim invasion, allowing for uninterrupted Ottoman expansion into eastern Europe.

Hope this helps!

(btw im muslim:)

7 0
3 years ago
Read 2 more answers
Many cell phone companies have similar offers and restrictions for changing numbers, adding numbers to a plan, getting a new pho
galben [10]
Based on the scenarios, it will be very likely that the similarities are due to institutional isomorphism
In business, institutional isomorphism refer to a similarity of processes or structure of one organizations with the other because they've developed under the same constraints

hope this helps
6 0
3 years ago
Noura Company offers an annual bonus to employees (to be shared equally) if the company meets certain net income goals. Prepare
Gnoma [55]

Answer:

                                                            Dr.             Cr.

Employees Bonus Expense          $15,000

Bonus Payable                                                 $15,000

Explanation:

Bonus is paid to employee on a decided amount or decided percentage or ratio. It is an expense for the organization and it should be recorded in the relevant period as per accrual concept even it is not paid. The Entry will be made as Bonus expense is debited and Bonus payable is credit because at the end of year it is unpaid.

4 0
3 years ago
Other questions:
  • A real option enables the investor to buy an option for a small initial investment, hold it until a decision point arrives, and
    10·1 answer
  • Nathan and Nancy were divorced in 2016. The divorce agreement required Nancy to pay Nathan $5,000 a month in alimony. Based on y
    8·1 answer
  • What is the education level of a majority of the Power, Structural, and Technical Systems workers?
    5·2 answers
  • Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.5 cus
    14·1 answer
  • You pay for cheese and bread from the deli with currency. which function of money does this best illustrate?
    11·1 answer
  • An owner of a small firm needs to hire some managers. Assume that each manager has time to
    8·1 answer
  • The accounts of Delphinia Dreams, Inc. showed the following balances at the beginning of October: Account Debit Raw Materials In
    5·1 answer
  • The total asset market value of General Motors (GM) is $10 billion. GM has an equity market value (market capitalization) of $7
    9·1 answer
  • Can someone pls solve 2.10 for me ?
    12·1 answer
  • How do marketing information systems benefit marketers?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!